Waycross Partners LLC Boosts Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Waycross Partners LLC increased its stake in Analog Devices, Inc. by 24.7% during the first quarter, now owning a total of 121,302 shares valued at $24.46 million.
• Analog Devices reported a quarterly EPS of $1.85, exceeding expectations and achieving a revenue of $2.64 billion, which represents a 22.3% year-over-year increase.
• The company announced a quarterly dividend of $0.99 per share, resulting in a 1.8% dividend yield despite a payout ratio of 107.90%.

Waycross Partners LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 24.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 121,302 shares of the semiconductor company's stock after acquiring an additional 24,041 shares during the period. Analog Devices makes up approximately 2.7% of Waycross Partners LLC's investment portfolio, making the stock its 16th largest holding. Waycross Partners LLC's holdings in Analog Devices were worth $24,463,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ADI. Orion Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC acquired a new position in shares of Analog Devices during the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in shares of Analog Devices during the 1st quarter worth approximately $27,000. N.E.W. Advisory Services LLC acquired a new position in shares of Analog Devices during the 1st quarter worth approximately $33,000. Finally, North Capital Inc. acquired a new position in shares of Analog Devices during the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Trading Up 0.4%

Analog Devices stock traded up $0.83 during midday trading on Friday, reaching $223.95. 3,078,240 shares of the stock traded hands, compared to its average volume of 3,379,463. The company has a 50-day simple moving average of $232.32 and a two-hundred day simple moving average of $215.78. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The firm has a market cap of $111.14 billion, a PE ratio of 61.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the business posted $1.40 EPS. Analog Devices's revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADI shares. KeyCorp upped their target price on Analog Devices from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Citigroup restated a "buy" rating and issued a $290.00 price objective (up previously from $260.00) on shares of Analog Devices in a report on Monday, July 7th. Cowen restated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Benchmark restated a "buy" rating and issued a $260.00 price objective (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Finally, KGI Securities initiated coverage on Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating on the stock. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Insider Activity

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.